We Founder Circle leads Seed round worth $100K in Nestroots a home decor & furniture Commerce startup
We Founder Circle (WFC) – a startup investment platform, in continuation of its mission to fund early-stage startups, participated in the $100K (debt and equity combined) worth Seed funding round in Nestroots, a home décor startup. Gurgaon based startup, Nestroots currently sells from multiple platforms including its own website, and other renowned marketplaces catering to Furniture, Dining and Tableware categories.This is the first round raised by the startup.
Neeraj Tyagi- CEO & CO-Founder, We Founder Circle commented, “Consumer behaviour in India has been gradually shifting towards urban lifestyle. This continuous shift has been driving the home decor market steadily. Also, globally during the current pandemic Home Décor has been the fastest growing category online, as homes have become the centre of attraction much beyond just living. Today home is your extended office, entertainment zone, party place & much more. All these factors have together created a more favourable scenario for Home decor startups like Nestroots to thrive.”
The startup plans to exhaust funds in digital marketing, building a better UI UX for its customers, facilitating association with vendors, and building more product categories.
“Though being bootstrapped till now we have seen amazing results and received a great response from the consumers, raising this round will really help us accelerate our growth plans, explore newer avenues and take bigger leaps in lesser time. We have been a profitable business since inception. Our product range has been widely accepted and liked by the customers in the segment. Now we are focussed on increasing the customer base in India by providing aesthetically high, and durable products at affordable prices. Raising this round has also given us opportunity to have Hitesh Dhawanon board as a Digital marketing mentor for Nestroots, who has also participated in this round. Hence, this round is not just restricted to financial support but also enables strategic and advisory support for us,” said Chhavi Singh – Founder, Nestroots, a home décor startup.
Nestroots has been able to reach 55,000 customers since inception. The brand aims at increasing the number of product parent categories from the current 7 to 12 by end of fiscal 2021-22.
Neeraj Tyagi- CEO & CO-Founder, We Founder Circle commented, “Consumer behaviour in India has been gradually shifting towards urban lifestyle. This continuous shift has been driving the home decor market steadily. Also, globally during the current pandemic Home Décor has been the fastest growing category online, as homes have become the centre of attraction much beyond just living. Today home is your extended office, entertainment zone, party place & much more. All these factors have together created a more favourable scenario for Home decor startups like Nestroots to thrive.”
The startup plans to exhaust funds in digital marketing, building a better UI UX for its customers, facilitating association with vendors, and building more product categories.
“Though being bootstrapped till now we have seen amazing results and received a great response from the consumers, raising this round will really help us accelerate our growth plans, explore newer avenues and take bigger leaps in lesser time. We have been a profitable business since inception. Our product range has been widely accepted and liked by the customers in the segment. Now we are focussed on increasing the customer base in India by providing aesthetically high, and durable products at affordable prices. Raising this round has also given us opportunity to have Hitesh Dhawanon board as a Digital marketing mentor for Nestroots, who has also participated in this round. Hence, this round is not just restricted to financial support but also enables strategic and advisory support for us,” said Chhavi Singh – Founder, Nestroots, a home décor startup.
Nestroots has been able to reach 55,000 customers since inception. The brand aims at increasing the number of product parent categories from the current 7 to 12 by end of fiscal 2021-22.
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